Saturday, August 19, 2006

Navistar grand opening is Friday

Navistar’s new operation will have its grand opening Friday at 11 a.m.
The building occupies the former Red Bird Garage location near the I-70 and S.R. 59 interchange.
Navistar’s property acquisition was made possible in part by infrastructure improvements to the area made with tax increment financing (TIF), said Jim Coffenberry, economic development specialist with West Central Indiana Economic Development District Inc., at Wednesday’s meeting of the Clay County Economic Redevelopment Commission meeting at the courthouse.
Because of tax captured from Navistar, “We’ll have more to invest as time goes on, if anyone is interested in developing the area,” Coffenberry said.
A TIF district captures tax money and uses it to improve the district.
“We can do more infrastructure improvements as needed,” he said.